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New petrol pump price of N151.56 irks, upsets lawmakers, want it reversed

 

The raise in the pump price of petrol from N148 to N151. 56 announced by the Nigerian Petroleum Product Marketing Company (PPMC), a subsidiary of the NNPC, has drawn a flak from some federal lawmakers, who have demanded a stay of implementation.

The lawmakers, under the aegis of minority caucus in the House of Representatives described the increase as unacceptable, saying it will result in rise in the already high cost of consumer goods and services, and worsen the current economic hardship being suffered by Nigerians.

Persecondnews had reported that the new price regime had forced independent marketers to announce N161 and N162 per litre at their filling stations.

The Federal Government has also during the week approved a hike in electricity tariff, a twin economic policy has been criticized by Nigerians, labour movement and civil society organizations as piling up hardships and pressures on ordinary Nigerians.

 

“The minority caucus in the House of Representatives, rejects the announced increase in the pump price of fuel.

“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when majority of Nigerians, across the country, are struggling to survive under the burden of high cost of living and low purchasing power occasioned by the prevailing economic challenges.

“Any increase in the cost of essential commodity like fuel will therefore bring more hardship to the people and as such should not be contemplated,” the Minority Leader,  Mr Ndidi Elumelu, said in a statement on Wednesday.

It demanded: “The All Progressives Congress (APC)-led government should rather come up with strategies that will lead to decrease rather than increase in the cost of domestic fuel, including revamping our nation’s refineries, instead of always resorting to price increase, to the detriment of Nigerians.”

 

The lawmakers asked PPMC to immediately reverse the new pump price and maintain status quo and consider a downward review.

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Written by Per Second News

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